Confectionery Packaging Market
The global confectionery packaging market size was valued at USD 14.33 billion in 2023. The industry is expected to expand from USD 14.93 billion in 2024 to USD 21.33 billion by 2032, exhibiting a CAGR of 4.57% over the study period.
Confectionery packaging aids in the preservation, protection, and branding of products. The rising demand for lightweight, high-barrier, self-appealing, and protective packaging among confectionery manufacturers is poised to surge the sales of this packaging type, propelling the market growth.
List of Key Players Mentioned in the Report:
- Amcor (Switzerland)
- Smurfit Kappa (Ireland)
- Rengo Co., Ltd. (Japan)
- Coveris Group (Austria)
- Huhtamaki Oyj (Finland)
- Constantia Flexibles (Austria)
- Printpack (U.S.)
- Stanpac Inc. (Canada)
- TOPPAN Inc. (Japan)
- Novel Packaging (China)
Fortune Business Insights™ provides this information in its research report, titled “Confectionery Packaging Market, 2024-2032”.
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Segmentation:
Plastic Segment Dominates Due to Moisture-resistance Feature
In terms of material, the market is divided into glass, aluminum, paper, and plastic {polypropylene (PP), polyethene terephthalate (PET), polyethene (PE), polyvinyl chloride (PVC), and others}, and others. The plastic segment accounts for the largest market share. The high preference for plastic among manufacturers owing to its lightweight and moisture-resistant attributes is augmenting the segment growth.
Convenience Provided by Flexible Packaging to Expedite the Segment Growth
On the basis of packaging type, the market is classified into flexible {wraps, sachets, films, bags & pouches, and others} and rigid {boxes & cartons, trays, containers, jars, and others}. The flexible segment registers the largest confectionery packaging market share. Flexible packaging offers convenience, user-friendliness, and hygiene, which accelerates the demand for confectionery products that deploy this type of packaging.
Increasing Number of Online Platforms Selling Chocolates to Bolster the Segment Expansion
By confectionery type, the market for confectionery packaging is divided into sugar confectionery, chocolates, candy, fruits & nuts, gums, and others. The chocolates segment witnesses the largest share. The growing number of online platforms selling chocolates boosts the demand for chocolates, proliferating the segment growth.
Regionally, the market is divided into Latin America, the Asia Pacific, North America, the Middle East & Africa, and Europe.
Report Coverage
The report provides a comprehensive coverage of the key driving and restraining factors impacting the market growth. Other aspects of the report include the COVID-19 pandemic impact, the top trends, and notable industry developments. It also offers vital insights into the strategic initiatives undertaken by leading companies to boost their share.
Information Source: https://www.fortunebusinessinsights.com/confectionery-packaging-market-109474
Drivers and Restraints:
Surging Demand for Convenient Packaging Solutions to Escalate the Market Growth
One of the key factors propelling the confectionery packaging market growth is a rise in the demand for convenient packaging solutions. The market is witnessing the preference of consumers for packaging solutions that provide packaging attributes, including extended product shelf life, ease of transport, and durability, and can be easily opened.
However, the fluctuations in price owing to the non-availability of raw materials and growing health consciousness may hamper the market expansion.
Regional Insights:
Europe Leads Due to the Rising Sustainable Packaging Initiatives
Europe captures the largest share in the confectionery packaging market. This is on account of the increasing sustainable packaging initiatives, which are driving manufacturers toward the adoption of eco-friendly materials and practices.
The Asia Pacific is the second leading region due to the expansion of businesses by prominent manufacturers in the chocolate industry.
Competitive Landscape:
Key Companies Emphasize Offering Advanced Solutions to Reinforce Their Position
Smurfit Kappa, Amcor, Rengo Co., Ltd., Novel Packaging, Huhtamaki Oyj, Coveris Group, Stanpac Inc., Constantia Flexibles, Printpack, and TOPPAN Inc., are some of the prominent companies in the market. The delivery of advanced packaging solutions is being emphasized by many companies.
Key Industry Development:
August 2023 – Amcor released high-barrier performance paper packaging in North America. Moreover, this launch is part of the company’s AmFiber portfolio and caters to the repulpability standards for curbside recycling.
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